everiToken Inherently Adaptable To Regulation

2018/10/31/ 14:46

Before now, Wall Street firms had treated cryptocurrency with disdain. However, all that is gradually changing as there appears to be a light at the end of the tunnel. Indeed, excitement is gradually replacing the worrisome treatment.

For instance, in January this year, the U.S.-based fund management firm, Merrill Lynch, barred Bitcoin trading due to a bubble fear. Nonetheless, there has been a paradigm shift as statistics show that at least 20% of firms want to deal with digital assets in the near future.

When it comes to smaller firms trading digital assets, they are also making some gains. Consequently, big players like behemoth, Goldman Sachs, are looking to jump into the cryptocurrency space. Of more than 2000 tokens to choose from, everiToken has an exceptional utility value.Has Cryptocurrency Gone Mainstream?

In truth, cryptocurrency trading is not yet ubiquitous. So, it is far from taking its pride of place, envisioned so long ago. Not only cryptocurrency trading, but even blockchain-based solutions also have yet to make it to the mainstream.

While the apparent lack of clear regulation in this ecosystem is the primary cause, the trend is gradually disappearing. For instance, Japan has expressed its resolve to legalize initial coin offerings (ICOs), but all the activities within the space are still under regulatory scrutiny. No doubt, the Asian country treats ICOs with a high level of caution.

Similarly, the Thai Securities and Exchange Commission has rolled out its laws, regulating cryptocurrency activities in its jurisdiction. As governments around the world use regulation to ascertain how crypto activities should be conducted, it is pertinent that blockchain technology is adaptable above them all.

everiToken has made a grand entry into the cryptocurrency space. Unlike competitor Ethereum, everiToken adapts to dynamic regulatory frameworks. Meaning, trading or issuance of tokens requires the active participation of a majority of the actors, especially when it involves its safe contracts. By default, a controlling vote is given to the regulatory body, allowing the local authorities to prevent illicit trading and issuance of tokens on the blockchain. In truth, this approach applies to a wide array of goods and services. That’s not to mention its applicability in all regions of the world.

Applicability Instances

Looking at the use cases, municipal housing authorities in the United States can monitor real estate transactions. Likewise, an entertainment venue can manage and validate ticket sales in South Korea. The importance of this approach is that tech developers don’t have to help a token-based system to meet regulatory compliance. The reason for that is crystal clear. Yes, overseeing government agencies will take care of that.

As the UK government has launched research into the legality of blockchain-based contracts, a regulatory green-light could be coming for everiToken’s safe contracts. No doubt, the reason is that the everiToken’s safe contracts integrate into the legal framework of many jurisdictions.